khan: Pakistan PM Shehbaz urges Imran Khan to sue Financial Times over report on his political rise
Pakistan Prime Minister Shehbaz Sharif has urged Imran Khan to file a defamation case against Britain’s Financial Times newspaper for publishing an incriminating report alleging how funds raised through charity cricket matches were used to ‘rise of the political party of the deposed prime minister. The Financial Times published the story on Thursday titled “The strange case of the cricket match that helped fund Khan’s political rise.” The report says fees were paid to Wootton Cricket Ltd, which despite the name was in fact a company incorporated in the Cayman Islands owned by Pakistani tycoon Arif Naqvi, the founder of…
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European lenders prepare for life outside negative territory
European lenders have endured a painful decade waiting for interest rates to rise. But just as central banks are finally starting to move, the expected windfall is threatened by the looming recession and fears that cash-strapped governments could hit lenders with new taxes. Last week, the European Central Bank raised interest rates for the first time since September 2011, half a percentage point to zero. This followed more aggressive hikes by the Federal Reserve and the Bank of England in attempts to control inflation that is expected to soon reach double digits. “The world will have to relearn banking,” UBS…
Read More »Cherokee Nation Homeowner Assistance Fund to help citizens facing financial hardship | news
The Cherokee Nation Housing Authority is expanding the Cherokee Nation Homeowner Assistance Fund program to assist eligible citizens experiencing financial hardship due to the COVID-19 pandemic. “The Cherokee Nation Homeowner Assistance Fund program will provide even more stability and security to our citizens who are still struggling due to the COVID-19 pandemic,” said Principal Chuck Hoskin Jr. “Our citizens deserve to live in safety and dignity, without fear of losing their homes. The program is already helping our people and will directly impact hundreds of Cherokee families while strengthening our communities and creating positive generational impacts for all.” The Homeowner…
Read More »‘Alarm bell’: Oz struggles have GOP launching alternative path to Senate takeover
On a donor call last week that focused on Senate races across the country, NRSC officials discussed Oz’s poor polling performance, including his high unfavorability ratings, said a person on the call “It was a wake-up call,” the person said, adding that Oz’s poor image among voters is “frightening everyone.” On the call, NRSC officials tried to calm nerves and reassure financial backers that Republicans could still retake the Senate majority even without an Oz victory. The GOP only needs to unseat one Democrat this fall to win the Senate, which is currently split 50-50. But Republicans must also defend…
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Stocks end mixed as investors weigh rate hikes and recession fears
US stocks extended losses on Thursday as investors digested earnings and recession talk at big Wall Street banks while reeling from shock inflation data that raised the possibility of a rate hike of 100 basis points later this month. The S&P 500 and Dow Jones Industrial Average recovered from session lows of nearly 2%, but each closed down 0.3% and 0.5%, respectively. The tech-heavy Nasdaq entered positive territory to end the session just above breakeven. JPMorgan Chase ( JPM ) was in the spotlight Thursday after it reported a wider-than-expected 28% drop in second-quarter profit, attributing the drop to a…
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Go to the knowledge: The 100 most influential money experts and the best financial news of July 7
Obradovic/iStock.com It’s here: GOBankingRates’ definitive list of America’s Top 100 Money Experts. From top authors and TV personalities to podcast hosts and influencers, they have plenty of financial advice to share. Check it out, along with some of today’s biggest financial stories. The big plus: Where do Americans get their money advice? A recent GOBankingRates survey found that nearly half of Americans turn to experts for financial advice, so we analyzed “best of” lists and other rankings to determine the best of the best in a variety of categories. Bonus Offer: Open a new Citi Priority account by 9/1/23 and…
Read More »Stocks rose as Wall Street weighed fresh earnings and economic data
Stocks rallied on Friday in response to a fresh round of bank earnings and promising economic data, as fears of a 100-basis-point Federal Reserve hike to control rising inflation eased. The Dow Jones Industrial Average rose 658.09 points, or 2.15%, to 31,288.26. The S&P 500 jumped 1.92% to 3,863.16, and the Nasdaq Composite rebounded 1.79% to 11,452.42. Despite Friday’s rally, all major averages ended the week with losses. The Dow fell nearly 0.2 percent, while the S&P and Nasdaq fell 0.9 percent and nearly 1.6 percent, respectively. The session’s moves left the S&P 500 about 19% off its highs. “The…
Read More » Jump to knowledge: Social Security COLA estimate increases and top financial news for July 14
Obradovic/iStock.com Today is National Mac and Cheese Day, but before you indulge in the king of comfort food, take a moment to catch up on today’s biggest financial stories. The main protagonist: COLA Social Security Social Security recipients could see their cost-of-living adjustment in 2023 reach double digits for the first time in more than four decades as U.S. inflation continues to climb higher and higher despite government efforts to slow her down Read the full story here Business Spotlight: Netflix and Microsoft Netflix announced that it chose Microsoft to help with the company’s first advertising-supported subscription offering, saying it…
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